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Liberty Media Moves Live Nation Stake to SiriusXM

Y2kTheNewOldies

Y2kTheNewOldies

https://news.****************/articles/n38639/Liberty-Media-Moves-Live-Nation-Stake-to-SiriusXM


John Malone's Liberty is re-attributing its 33 percent stake in Live Nation Entertainment, along with other assets, from its Formula One Group to its SiriusXM tracking stock. As reported in The Hollywood Reporter, this puts the live event and music company stake under the umbrella of SiriusXM, while strengthening the liquidity of racing circuit Formula One. There has been speculation that Liberty could eventually look to acquire control of Live Nation, whose stock has been volatile amid the coronavirus crisis.
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What the announcement doesn't say is the Sirius Group also has Pandora. Those are two cash based companies, where subscribers pay for access to content. Given that the concert business is in a holding pattern right now, combining it with Sirius provides Live Nation with a solid revenue source.

The unknown is what would happen if Liberty bought a larger stake in iHeart, as had been rumored before the virus hit.
 
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